Question: Here you will build a model for spending the amount you have accumulated in your retirement account. The model will be based on the the

Here you will build a model for spending the amount you have accumulated in your retirement account. The model will be based on the the following assumptions: - You will retire on your 65 th birthday with a retirement account balance equal to $1,000,000. Each year after retirement: - You plan to withdraw $60,000 at the beginning of each year from your account to support yoursell, except when the amount in your account falls below $60,000 - There will be no more contributions coming into your account. - You will continue to earn some return on the amount in your account, the rate of of return will be 2%. (f this rate of return seems low, it is because you will be changing your investments to reduce risk, and low-risk investments tend to eam a low rate of return on average.) - You will have to pay a tax on the amount you withdraw, equal to 12% of the amount withdrawn. - The bank where you maintain your retirement account charges a fee at the beginning of each year equal to 0.25% of your previous year's account balance. The worksheet "My Retirement-Tables" contains tables created to help you perform the calculations involved in spending your retirement nest ess In the green table, type the numbers reflecting the assumptions given above. To calculate the "wathdrawal amount availiable to you for spending after. paying taxes, " Insert a formula subtracting the tax amoum from the withdrawal amount. In the blue tableiniert appropriate formulas to calculate the ceis of each column. insert references to the geen tabie ceils whereever appropriate and nossibile. A fow rios
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